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Published on Friday, 01 February 2013 20:55
Companies from Japan and England recently held discussions on investment prospects with the Directorate of Myanmar Investment and Companies Administration.
The firms include Komatsu from Japan and Cargotec from the UK.
Komatsu is the world's second largest manufacturer of construction and mining equipment after Caterpillar. However, in some areas, such as Japan and China, Komatsu has a larger share than Caterpillar. It has manufacturing operations in Japan, Asia, Americas and Europe.
England-based Cargotec UK Co, Ltd is a company of manufacturing construction materials.
Komatsu is a company manufacturing weapons in the past and later turned to heavy machinery for construction and mining. The company discussed about investment prospects, the foreign investment law as well as rules and regulations with Myanmar officials from the Ministry of National Planning and Economic Development on January 25 in Nay Pyi Taw on January 25.
Similarly, Cargotec company talked about the manufacturing of heavy machinery for construction purpose with Myanmar officials in Nay Pyi Taw on January 23.
Myanmar is so far unable to manufacture heavy machinery and construction machinery. Myanmar annually imports heavy machineries and spare parts worth billions of US dollars.
Myanmar Kaido is a popular company importing and distributing heavy machinery and construction machinery in Myanmar for the time being.